Ideas and discussions about economic and financial literacy issues.
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Thursday, October 15, 2009

And Managing the Commons - Institutional Economics on TV

Those of you who watch Curb Your Enthusiasm undoubtedly saw this. But it’s an excellent example of the informal rules we place on ourselves to direct the choices we make. Think of the hors-doeuvres table as a commons. This is an application of what the Nobel Prize in Economics is recognizing this year.

Blog Archive Note

All entries prior to August 15, 2007 appeared on the economic education blog of the Federal Reserve Bank of Chicago. Entries between August 15, 2007 and July 31, 2009 were under the auspices of the Powell Center for Economic Literacy in Richmond, VA.